Northern coal deal sealed A LONDON, ONTARIO mining development com- pany has taken possession of anthracite coal holdings north of here. Fortune Minerals Ltd. has successfully closed a $3.1 million deal for the Mount Klappan property with Conoco, a major American energy compa- ny. The property came into possession of Conoco last year when it bought Gulf Canada. Gulf acquired the coal leases in 1981 and put considerable work into them. Fortune is also repta- cing a $210,000 teclama- tion bond Conoco had for roads at the site, “All the boxes are ar- tiving now,” said Fortune official Derek Mulligan of material being sent by Conoco. Fortune had pone through a due diligence period but is now free to fully evaulate the property and seek capital. Should the holdings go into commercial produc- tion, Conoco will receive royalty payments of $1 a ton. Gulf did not make a production decision, but did go as far as to take out a 200,000 tonne sample, 100,000 tonnes of which were shipped to Europe. Fortune officials say there’s great promise in the Klappan property as anthracite, the hardest of the coals, is prized for ‘steel _m ‘ting 'in*some*p ing’ in’ some*parts of the “world and for burning in thermal-eléctric generating plants. The property is 150km from Stewart as the crow flies but far longer by a road. Fortune officials do talk about a shorter route, mak- ing Stewart an attractive port should the property ever reach production. Fortune president Robin Goad has said the compa- ny is looking an open pit mining plan based on starting small and enlar- ging as financing atlows. A small company, For- tune does not have any producing properties but does have interests in co- balt-gold and copper-sil- vers deposits in the North- west Territories and has a stake in a potential lime- stone quarry in southwest Ontario. Road plan on fastrack TAXPAYERS IN greater Terrace and other parts of the regional district wil! help pay for a plan the town of Stewart says is needed to speed up gov- ernment approval of the Kemess road. ‘The Kitimat Stikine ‘Regional District board has approved a $10,000 contribution toward an im- plementation plan that would resolve a number of outstanding issues that - would save time for a po- tential applicant seeking approval for the project. Stewart mayor Mark Edgson said the money isn’t refundable unless the toad is built. Right now a potential proponent is looking into a financing plan, he said. Edgson described the potential proponent as private partner who is in setious negotiations with road users, A feasibility report pre- pared six months ago esti- mates the road would cost. $38.9 million to build. -BUSINE king, home! heb- ._¢ —— mi Current connector TWIN RIVER Power worker James Grant got a big lift last week as he re- placed old power lines on Clinton Street. JOANNA WONG PHOTO The Terrace Standard, Wednesday, August 14, 2002 - A7 Third HAWKAIR'S THIRD Dash 8-100 aircraft arrived in Terrace early in the even- ing of Aug. 3 and was put into service Aug. 5, says company partner Rod Hay- ward, Its arrival now means the company offers more daily flights between Smi- thers, Terrace and Prince Rupert to Vancouver. “One of the aircraft will Hearty Mums’ NOW IN! More daily flights plane arrives Fall Bulbs Early September 2002 be based in Terrace, one in Smithers and one in Vancouver but all will ra- tate through Terrace as it is our main maintenance base,” said Hayward. The third aircraft: was blessed by local: Anglican minister Dean Houghton and by William Anderson, the Anglican bishop for the Diocese of Caledonia. Hawkair began with one Dash § in September 2000 and adkled its second Dash §--last--years With the growth of the number of aircraft comes a growth in employees. Hayward — estimates Hawkair now employs 85 people in Terrace, Smi- thers, Prince Rupert. and Vancouver with the major: ity being located in Ter- race. Come see Jack the... “Northwest Gardener” and the experienced ” Garden Shed Staff at the ’ skeena Valley Fall Fair Aug, 31-Sept, 1. /s WISE BUYERS READ THE LEGAL COPY:*O% purchase finanelmy on most new in-atock 2002 Ferd yohicles for 90 days to retail customers. cn approved credit. After the 60 day payment deferral a 0% + §.9% purchase Cnancing (varies dapanding an vehicle model) bs required en most new in-stock 2002 Ford vohictes for a masimum of 36f48 months to retail customers, on approved credit. No down: payment required. All purchase financing offers include alt tavfreipht and exclude Heence, insurance, administration eed and al] other applicable taxed, E.g. $20,000 feanced at Oh annual percentage rite for 80 days, monthiy payment is $2, cont of borrawing for the first 00 days. fs $0 ar % per annum and tetai atill owing after the OO days ly $20,000. After PO days finance $20,000 al 1.8% snqual percentage rite for Ha/4d monthe, monthly payment (8 $607.6.3/3460.88, cost of borrowing Is $1,874.00/62,005.20 and total to be road (a 27,274,08/522.505.28, This is a sample Calculation oniy."*Loate most new in-stock 2002 Ford vehicles fer an anvuel lease rats between 1,4 5 and 9.0% {verler depanding ni vahicla model) for 36 or 48 manth leaca contact from Ford Credit to qualified retall lessees, on approved credit. No down payment of bacurity deposit required. Ford Motor Company of Canada will pay the first month's payment Soma conditions and a mileage resviction of 60.000/80,060 km aver 38/45 months apply. A charge al 8 cants par km over mileage resiric- ton applies, ptus sppicable tues. E.p. fora 43 month leise an a 2002 Taurus LX sedan, Ford Motor Compeny of Consda makes your first month's lonze payment end thon foe the remaining berm, your monthly itty deposit required, Total lense ob! pation a $10,152, residual amount of $7,163.60, plus applicable taxes, Thig fp a gampla calculetion only. AM lanse offers Include pit Lucite! ght end ¢ecfude licence, Insurance, foes and all other tense paymant is 4309 per month based on an annual fesse rate of 2.4% from Ford Credit to qualified setlll lastee!, of approved credit. Ha down payment of sacu- taxes. CO} purchase Fisaneing avaliable on remaining now in-stock 2002 Fotua, Thorus, Windstar and Explorer Sport for 48 months to qualified retalt customers, on poproved credit, E.9. $20,000 financed at 0% annual percentage sate for 44 months, monthly payment Ie $416.87, cost ol borrowing bs £0 pnd total te be repaid Ie $20,000, This fy a bemple calculation only, Cown payment of equivalent trade may be required based On approved credit, Fin ancliy deel niét ppty be Hoenta and Insurance feos. Lease and purchase offers aro mutually exclave and cannol ba combined. All offara exclude Lncotn, Thunderbisd and F-Saries {above A500 OVW]. Denier may sof of tase for less. Limied time offers, Offers may be changed at any time without notice, Soma conuitiens apply. See Destar for details, 4 P’TERRACE’ 4631 Keith'Avenue Terrace, B.C. (250) 635-4984 - OTEM: FORD Fax (250) 635-2783 Toll Free 1-800-463-1128 piass4e.